finance
U.S. Strategic Petroleum Reserve Falls 5.5 Million Barrels to 1983 Low
U.S. oil stocks in the Strategic Petroleum Reserve declined by 5.5 million barrels last week to 325.7 million barrels. The level marks the lowest since May 1983 and the 13th straight weekly drop.
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U.S. Strategic Petroleum Reserve stocks declined by 5.5 million barrels in the most recent week to 325.7 million barrels, according to U.S. Department of Energy data reported by Reuters. The total is the lowest recorded since May 1983.
The weekly decline is the 13th consecutive reduction, the longest streak since the 2021-2023 period. Over the 13 weeks, SPR holdings fell by 89 million barrels. That volume equals 51.7 percent of the 172 million barrels planned for release under an IEA-coordinated program.
The program aimed to address a global inventory gap after the Iran war and to lower fuel prices. Between July 2023 and March 2026 the United States had added 69 million barrels to the reserve.
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